Unstoppable Domains integrates Monero usernames with Kek Wallet
Blockchain domain provider Unstoppable Domains has partnered with open source wallet Keck Wallet to launch a new top-level domain specifically for Monero users, the companies announced.
Like static domains, the new .xmr domains allow Keck Wallet and Monero (XMR) users to send and receive tokens using human-readable addresses instead of long alphanumeric characters. The company said it expects the change to simplify the user experience and support Monero's wider adoption.
With the partnership, Cake Wallet will support .xmr usernames on its platform, allowing users to create unique digital identities for their blockchain connections.
Giving more privacy to Monero users
The announcement said users of the .xmr domain can manage assets and connections across multiple networks, including the Ethereum Virtual Machine (EVM) and non-EVM chains.
According to Sandy Carter, Chief Operating Officer of Nonstop Domains, the partnership goes beyond making onboarding easier. Carter said:
“It's about giving Monero users the privacy and security they expect as they gain more control over their digital identities.”
.xmr domains are intended to help users keep their financial communications private while reducing transaction errors, Carter said. “We're increasing privacy, usability and control by bringing .xmr domains to Cake Wallet, designed specifically for the Monero community.”
Related: Leaked Chainalysis Video Suggests Monero Transactions Can Be Traced
Regulatory hurdles for the Monero token
Known for its privacy-focused features, XMR currently trades at around $164, with a market capitalization of over $3 billion. Despite its popularity, Monero has faced regulatory pressure, which has led some major platforms to stop supporting XMR.
On October 2, crypto exchange Kraken stopped supporting Monero in the European Economic Area, citing regulatory and compliance obligations.
This followed updates that banned the use of privacy-focused crypto tokens. In the EU, crypto asset service providers are prohibited from providing accounts to anonymous users or using privacy coins such as Monero.
Japan in 2010 It banned anonymity-enhanced tokens in 2018, while South Korea banned privacy coins from exchanges in 2020. In Dubai, the government has banned operations and activities related to anonymity-enhanced tokens by 2023.
Magazine: Bitcoin ETFs See Big Volume, Binance Delists Monero and ARK Plan Ether: Hodler's Digest, February 4-10
